recorded as a component of accumulated other comprehensive loss. Subsequent to the counterpartys credit rating downgrade, the change in fair value of the interest rate swap was recorded in
earnings as a component of interest expense. The Company terminated the interest rate swap agreement during October 2008. The Company determined that the forecasted transactions hedged by this interest rate swap are still probable to occur, thus the
total amount previously reported in accumulated other comprehensive loss related to this interest rate swap agreement of $18,147 was amortized on a straight-line basis to interest expense over the period during which the forecasted transactions were
expected to occur, which was September 15, 2008 through August 13, 2012. The Company amortized approximately $4,236 and $2,470 to interest expense during the years ended December 31, 2011 and 2012, respectively.

The changes in accumulated other comprehensive loss, net of taxes, related to the Companys interest rate swap agreements for the
years ended December 31, 2011, 2012 and 2013 were as follows:

Interest Rate Swap Liabilities

2011

2012

2013

Beginning balances  January 1

$

(11,726

)

$

(12,357

)

$

(8,867

)

Other comprehensive loss before reclassifications, net of taxes

(18,759

)

(11,959

)

(2,668

)

Amounts reclassified from accumulated other comprehensive loss to interest expense

20,165

15,449

5,819

Net other comprehensive income (loss)

1,406

3,490

3,151

Loss included in earnings

(2,037

)





Ending balances  December 31

$

(12,357

)

$

(8,867

)

$

(5,716

)

14.

FAIR VALUE MEASUREMENTS

The Company determines fair value measurements in accordance with FASB ASC Topic 820, which establishes a fair value
hierarchy under which an asset or liability is categorized based on the lowest level of input significant to its fair value measurement. The levels of input defined by FASB ASC Topic 820 are as follows:

Level 1



quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date;

Level 2



other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and

Level 3



unobservable and should be used to measure fair value to the extent that observable inputs are not available.

Below is a summary of assets and liabilities measured at fair value on a recurring basis by the Company
under FASB ASC Topic 820 as of December 31, 2013: